Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 771:

  Trade fairs in Nigeria are organized by

  Options:
  A) Ministry of Commerce and Industry
  B) Chambers of Commerce
  C) The Federal Government
  D) Manufacturer’s Association of Nigeria
  Show Answer
  The correct answer is B .
• Question 772:

  The agency that currently oversees the privatization and commercialization processes in Nigeria is the

  Options:
  A) Nigerian Stock Exchange
  B) Technical Committee on Privatization and Commercialization
  C) Securities and exchange commission
  D) Bureau of public enterprises
  Show Answer
  The correct answer is D .
• Question 773: The implied provisions in every sale of goods as contained in the sale of goods act of 1893 are conditions and Options:
  A) Guaranties
  B) Warranties
  C) Sureties
  D) Consideration
  Show Answer
  The correct answer is B .
• Question 774: The development of a continer and a graphic design for a product is called? Options:
  A) packaging
  B) promotion
  C) processing
  D) production
  Show Answer
  The correct answer is A .
• Question 775: The document which can be exchange for a bill of lading is? Options:
  A) freight note
  B) mate receipt
  C) export invoice
  D) ship report
  Show Answer
  The correct answer is A .
• Question 776: The type of partnership in which all partners are jointly liable in bearing risk is? Options:
  A) limited partnership
  B) partnership-at-will
  C) ordinary partnership
  D) industral partnership
  Show Answer
  The correct answer is C .
• Question 777: An opportunity to reject a binding contract at will by a third party is said to be a? Options:
  A) valid contract
  B) quasi contract
  C) voidable contract
  D) conditional contract
  Show Answer
  The correct answer is C .
• Question 778:

  When a vendor supplies news papers from house to house and across the streets, the element of marketing mix involved is? 

  Options:
  A) product
  B) price
  C) promoting
  D) place
  Show Answer
  The correct answer is D .
• Question 779: An oil exploration company is engaged in? Options:
  A) tertiary production
  B) constructive occupation
  C) extractive occupation
  D) secondary production
  Show Answer
  The correct answer is C .
• Question 780: The variety of goods and services which a company offers for sale is its? Options:
  A) place mix
  B) promotion mix
  C) price mix
  D) product mix
  Show Answer
  The correct answer is D .